Employment Pass vs EntrePass Comparison

Comparison Table

If you plan to relocate to Singapore to be actively involved in your company’s operations, you have the option to apply for one of the 2 types of work pass visas, as shown below:

Categories

EntrePass

Employment Pass

Who it is for?

It is designed for foreign entrepreneurs who may have an innovative business idea with potential economic prospects; or who may have demonstrated high caliber entrepreneurial traits with records of successful businesses even without the appropriate educational or specialist skills qualification.

It is meant for entrepreneurs who have tertiary educational diploma/degree, professional qualifications, specialist skills and related work experience. The Employment Pass is ideal for experienced professionals with enterprising ideas and who require a quick entry to kick-start their businesses.

Processing Time

25 to 45 days from the date of your EntrePass application filing.

1 day to 8 weeks from the date of your EP filing.

Eligibility and Assessment

Main criteria:

Incorporate a company with the Accounting and Corporate Regulatory Authority no more than 6 months at the point of submission of the EntrePass application

Fulfil at least one of the seven following innovation criteria:

Has funding from a government accredited VC or business angel

Holds an intellectual property

Holds significant business experience/network and promising entrepreneurial track record

Has exceptional technical/domain expertise in an area related to proposed business

Holds good track record of investing in businesses and want to grow new or existing businesses in Singapore

Has research collaboration with A*STAR or a university

Is an incubate at a government-supported incubator

Submit a 10-page business plan detailing professional profile of applicant, business idea and implementation plan

Main criteria:

Acceptable diploma/degree

Professional qualifications

Specialist skills

Minimum monthly salary of S$3,600 (effective 1 January 2017)

Other factors which also play a very important role are:

Salary of applicant

Age of applicant

Roles & responsibility

Related work experience

Reputation of the company

Company paid up capital

Applicant current citizenship

Validity

1-2 years

1-2 years

Renewability

Renewals of the EntrePass are contingent on meeting the two main requirements stipulated by the Ministry of Manpower: your business venture must demonstrate in a two-year period that it will employ certain minimum number of Singaporean or local workers; and reach the total business spending (TBS) for each category of EntrePass.

P1 Pass – 8 local employees; TBS S$300,000

P2 Pass – 4 local employees; TBS S$150,000

Q1 Pass – 2 local employees; TBS S$100,000

Renewable as long as you continue to be employed by the company.

Dependant Pass

Eligible for Dependant Pass for immediate family subject to meeting Year 2 renewal criteria of minimum annual business spending of $100,000 and employment of 3 local FTEs or 1 PME

Eligible for Dependant Pass for immediate family.

Permanent Residence (PR)

Eligible for application of Singapore Permanent Residence.

Eligible for application of Singapore Permanent Residence.

Not sure which work pass scheme to apply for?

AsiaBiz has immigration specialists who can answer your queries. Contact us now for a free consultation.